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Bank of Japan Raises Interest Rates to 1.25%, Highest in 31 Years
The Bank of Japan raised its interest rate to 1.25%, the highest in 31 years, to fight inflation. Despite the historic move, the yen weakened due to internal dissent and lower rates compared to the US and Europe, impacting global monetary policy and making Japan cheaper for tourists.
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What happened
- 01Bank of Japan raises interest rate to 1.25%, highest in 31 years.
- 02Yen weakens against dollar despite historic rate hike.
- 03Internal dissent and lower rates than US/Europe cited for yen weakness.
- 04Rate hike aims to combat inflation driven by various global factors.
- 05Higher global rates complicate Bank of Israel's easing policy.
- 06Weaker yen makes Japan more affordable for Israeli tourists.
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